Lepermislibre Société anonyme (ALLPL) H1 2024 earnings summary

Executive summary

• Online driving school with over 540,000 registered users and 300,000 driving lessons delivered since inception; employs 60 staff across operations, IT, and marketing.

• Offers code and driving exam prep, insurance products, and innovative digital services; insurance activities remain a minor revenue contributor.

• Listed on Euronext Growth Paris since February 2023; share price declined 79% to €0.78 by June 2024.

Financial highlights

• H1 2024 revenue: €7.38M, down 15% from €8.64M in H1 2023, mainly due to lower candidate numbers and regulatory changes affecting CPF-funded training.

• Gross margin stable at 37% of revenue; margin on CPF candidates at 41.7%, on self-funded at 31.4%.

• Operating loss reduced to €1.15M from €1.77M year-over-year, reflecting cost rationalization.

• Net loss for H1 2024: €1.12M, improved from €1.71M in H1 2023.

• Cash position at €2.8M, down from €4.9M at year-end 2023, used to cover losses and debt repayments.

• Net financial debt: €44.6K at June 2024.

Outlook and guidance

• Focus shifting to self-funded candidates to reduce exposure to regulatory risk from CPF.

• Ongoing cost optimization expected to further improve profitability in H2 2024.

• No significant impact from geopolitical or macroeconomic uncertainties as of June 2024.